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Good digging around going on here on this board, good communication shared with IR, effected a correction of a misprint...I would say this investment community is doing about all they can to support one another...thanks.
So, the books are being combed over by a very fine-toothed comb. WHY? Why in 2010 did they decide to look at books from 2006, 2007, and 2008.
Is there some very intense due dilligencec going on? I can remember thinking things along the lines of a possible sale of the company starting to explain the lack of communication coming out of this company, lack of CFO hiring, lack of buyback taking place...If not a sale of the company, then some type of bigger deal maybe? One that requires every single hair to be in the right place?
One thing that caught my eye in the NOL situation was that you lose the NOL when you have a significant change in ownership. It is my thinking (I may be wrong here) that new owners cannot 'buy' such a big tax liability.
Is this obscure bank account even meaningful? I can not begin to know how many shares are actually owned by all the posters here, but what if it was a very nice material number? Being cynical and letting that side run would beg a quick question of wondering if this is an elaborate way of attempting to shake some shares loose?
Maybe the SEC saw this veiled attempt and therefor shut down trading to truly protect the shareholders?
Please someone, kindly remove my rose colored daydreaming eyepatches!
In a perfect universe the SEC can do a lot of things, Sadly, I have learned through hard knocks that the SEC more or less stands for Servicing Elite Criminals...They have been asleep on the job for so long...hopefully, something has changed with all the outright fraud perpetraded during my middle-aged life.
My buys in the 1.50 range were directly based on the news out of China...
All F**n bets are off.
This could be big to major problems. Do not count on a simple misunderstanding. To halt a company unitl March?
Why March? These delays in the CC was to shore up some type of deal or something. Maybe the halt period was extended past the deal phase for some reason?
Hope my extemely low valuation for my shares lets me get out with some of my principle, forget the nice, up until now, biggest profit I have ever had in a stock...
SH*T
If a buyout was in the works, can EGMI pursue a buyback? Wouldn't that be trading on inside information?
The only way to avoid potential legal issues with the buyback is to ascribe a predetermined amount and recurring buy pattern to fill your goals. You don't get questioned about that approach.
Way back when, when this company was putting things together nicely and announced it passed a very stringent test allowing it's product to be granted the proper license for gaming, I was extremely pleased that this would provide a nice barrier to entry for competition. The more time that passes and we are not selling game cards hand over fist, I worry about the gains made by competition to move in on this niche.
It has taken awhile, yet this was the year that we were to see it going somewhere (I am talking about the Indian Casino space). Here is to hoping to see that roll out.
Does it make sense to go so dark for so long?
No insider's buying (or selling).
No CFO.
No share buyback taking place.
Could there be a deal in the works that ties the company's hands and shuts their mouths?
Thanks for the research.
I am wondering if this was the timeperiod when there were some concerns with the manufacturing of the product. I can recall talk of some issues and the need to make the supplier of the cards more stable. Wether that mean secure, redundant, better quality, I can not say.
CirQ SmartPen Optical USB Barcode Scanner
Anyone else following this technology? I don't recall them speaking this up much at all.
You know, I have had the same questions regarding how long they will keep your attention. I heard the lottos in the two states sold them well enough. There was talk of various price points and I was not sure if the 20 dollar price was too steep or just too many plays before interest might be extinguished. I called one of the states that was selling them, at the time they were selling them and they said it was going fine. Said it was just a trial run and did not color me any further.
There was an issue with supply at one time, out of China. But they were said to have worked that out, made the technology more stable.
The 'modesty' you say is lacking is something I have been aware of as well.
This company used to be VERY conservative in it's future statements. Very careful to say that it was not counting on various numbers in their projections, not promising any date certain events to pass, and not over dressing their prospects. Yet there was a steady stream of positive developments to report as time marched on.
Some of the language I have already quoted here coming from the Marketer Kevin is too heavy with potential and opportunities (those birds in the bush) for my personal tastes. Although that steady stream of positive developments may have slowed a bit as of late, they have also changed a bit as of late.
From the 'deals' of others taking us on to market our gamecards, to us paying to license technology, us paying for an incubator situation with an unproven yet exotic idea (Poken).
Man would I like to see this company firing on all cylindars to put as many of their gamecards into the hands of as many people in as many markets (education, promotion, gaming) as possible.
Thanks for this post.
So the IR is contracted, understanable. Did Kevin step in as a contracted executive? He is more sales than goverenance? Would seem to make sense I guess.
So it looks to me that Scientific Games loses its exclusivity in Italy and the US sometime around 05/02/2010.
Looks like EGMI went out and is aquiring other partners while Scientific Game was comfortable to just sit on EGMI for the three years. Unless there is an additional deal in the works with Scientific Games as well.
Scientific Games Enters Into New Agreement with Electronic Game Card
Print article
Refer to a friend
2007-05-02 15:13:23 -
NEW YORK, May 2 /PRNewswire-FirstCall/ -- Scientific Games announced today that it has entered into a new exclusive agreement with Electronic Game Card, Inc. (BULLETIN BOARD: EGMI) . Scientific Games will have a 10-year license for the Electronic GameCard(TM) intellectual property for the worldwide lottery industry. That license will be exclusive in North America and Italy for at least the first three years. This agreement streamlines the sales and manufacturing process and replaces the previous joint venture that has been dissolved as part of the new contract.
"We
see great potential in the future of hand-held electronic lottery games and the Electronic GameCard(TM) is a desirable and customer proven product in this new and expanding lottery category," said Lorne Weil, Chairman and CEO of Scientific Games. "We consider ourselves a pioneer in the lottery industry, and plan on continuing to do so with successful products like the Electronic GameCard(TM)."
The Electronic GameCard(TM) is a pocket sized extended play digital instant lottery ticket. Each GameCard, is about the size of a driver's license and no thicker than three credit cards, but is battery powered and loaded with tons of multiple plays. The Electronic GameCard's(TM) electronic play replaces the traditional scratch play on the paper instant tickets. LCD screens on the front of the card display the symbols in a particular play and show whether it has won a prize. The GameCard then aggregates the player's winning points that equates to a cash prize claimed like any other lottery instant ticket.
Both the Kansas and Iowa lotteries have offered the Electronic GameCard(TM) to their players and both resulted in extremely strong sales. After the first five weeks of sales, which totalled $1.1 million and indexed at 238, the Kansas Lottery re-ordered a full quantity of its $20, 80 plays, Electronic GameCards(TM) branded as Super Sevens.
"This new arrangement offers a win-win opportunity for both our companies as we each will be able to maximize the profitability of future Electronic GameCard sales. Additionally, our company can now focus its resources on expanding the market for the GameCard into new areas, as Scientific Games devotes its attention to promoting the Electronic GameCard(TM) within its target Lottery markets," said Roger Holdom, company spokesperson. "As the technology leader in the lottery industry, Scientific Games is the best possible partner for us, establishing credibility for our GameCard with their reputation for excellence and creativity."
In 2005, the Public Gaming Research Institute (PGRI) named the EGC as the Lottery Product of the Year during its conference in Las Vegas. The PGRI award recognizes the importance of new products to the growth and continuing success of worldwide lotteries.
Kardon,
The US Lottery exposure we have has been purchased and shelved by Scientific Games for, I think 5 years, which may be expiring? I have to check dates to be sure.
In any event. EGMI has been receiving a payment of something like $500,000 a year to NOT DO ANYTHING with the EGMI card except let Scientific Games keep it on the shelf.
Scientific Games already sells too many scratch tickets and basically bought their competition for awhile. In a way, it gave this young company a nice floor of income during these iffy times and forced them to look elseware for opportunitites, which they have been doing.
If anyone know, can you answer when the agreement with SG ends? I will Poken around a bit to look for that agreement.
Not sure if you tried this, clear your history and cache.
Yvonne is not employed by EGMI. It is an outsourced IR firm.
I have dealt with them before with other stocks I have owned. Not saying egmi is crappy, but all the other stocks that hired Yvonne and her husband? were bad stocks for me.
Hi everyone.
I see a lot of posts today. Looks like everone knows what I know at this point. Nothing further to report as of yet and will need to wait until the 25th now.
Understandably, feelings from the reschedule range from positive to negative. Confirms nothing is known.
Some observations. I think this stock has picked up a fair share of traders. Makes a nice liquid penny stock to satisfy the itch of those that like to 'outthink' the market and delve in and out quickly.
I bought as low as 9 cents and as high as 1.55 (I think it was 1.55). Luckily my average for the whole lot is still under 38 cent or something like that. This board sounds younger to me all the time. I think it is the trader types driving most of the banter. Good luck with that, I think you have a good company nonetheless. Just my opinion.
Whomever asked about the NOL's, this is from the ammened report of 11/23/09, taken from the SEC website.
Would like this clarified...is this just an interpretation? What are they saying exactly?
Income Taxes
The Company is subject to income taxes in the United States of America, United Kingdom, and the state of New York. As of September 30, 2009 and 2008, the Company had approximately $-0- and $13,810,000, respectively, in net operating loss carry forwards for U.S. income tax reporting purposes. Current tax laws limit the amount of loss available to be offset against future taxable income when a substantial change in ownership occurs. Therefore, the amount available to offset future taxable income may be limited. In establishing a provision for income tax expense, the Company must make judgments and interpretations about the application of these inherently complex tax laws. The Company must also make estimates about when in the future certain items will affect taxable income in the various tax jurisdictions, both domestic and foreign. Disputes over interpretations of the tax laws may be subject to review/adjudication by the court systems of the various tax jurisdictions or may be settled with the taxing authority upon examination or audit.
A tax benefit has been reported in the financial statements to the extent that it can be utilized to offset current income tax. The remaining potential tax benefits of the loss carry-forwards are offset by a valuation allowance.
For the nine months ended September 30, 2009 and 2008 income tax expense was $1,073,000 and $0, respectively. The income tax expense provision is included in the Company's accrued liabilities at September 30, 2009.
As at September 30,
2009
2008
Income Tax Provision at Statutory Rates
$ 2,553,000 $ 1,657,000
Adjustment to reconcile to the Income Tax Provision :
Valuation Allowances
- -
Benefit of Net Operating Loss carry forward
(1,480,000 ) (1,657,000 )
Provision for Income Tax
$ 1,073,000 $ -
Income taxes are recorded in accordance with Accounting Standards Codification sub-topic 740-10, Income Taxes (“ASC 740-10”). ASC 740-10 requires the recognition of deferred tax assets and liabilities to reflect the future tax consequences of events that have been recognized in the financial statements or tax returns. Measurement of the deferred items is based on enacted tax laws. In the event the future consequences of differences between financial reporting bases and tax bases of the Company’s assets and liabilities result in a deferred tax assets, ASC 740-10 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion or the entire deferred tax asset will not be realized.
Nightroads
Thank you for the message. Sorry I cannot send a private reply also, but I don't have that function.
I did not put too much in those video's, it's just that I think it is a bit too far off track. If emgi commenced the quick action at the close of Sundance, then they are moving with proper speed IMO.
Thank you for that link, and Ian, thank you too for a pretty good summation to this point.
I would also like to know about the NFL or Sports connection in the promotion business as well as a Poker promotion that was discussed at one point. I think the promotions market is a very good opportunity for egmi.
Whoops, didn't mean to get such a viceral response.
I know shouting is done in CAPITALS....not sure what sarcasm is supposed to be typed in, but my use of it did not translate very well.
Yes, I will give you that regarding putting the 'hip' hat on at that venue. I guess at least he is willing to roll his sleves up an 'go for it'.
The Elephant in the room for me...
Does anyone else get a slight bit uneasy to see Kevin D in those You Tube commercials for Poken?
It comes across as hucksterish to me and so far from the big deal types of placements for either the educational branch of EGMI, the gaming branch, and the promotional branch.
Anyone else have this uneasiness?
Watching the trading action over the last few months, it seems like the traders are firmly in the middle of the big swings here. If you are optimistic, then this is not insiders trading on non-published information, rather it is trading inertia lending itself to these big percentage swings.
I feel the number one thing the company can do at this point is pursue a SHARE BUYBACK with some of the cash it has on hand and cancel those shares. It would give us a much needed VOTE of CONFIDENCE that the business model is firmly on track, and it would lend support for a floor on PPS, help the overall numbers, and bring this closer to being able to come off the .OB status onto a real exchange.
Have to say though, the stab at Poken threw my confidence a bit in that it was so far off the business model they were putting together. Even the last Bailey's deal was a bit off the model, imo.
I keep reading where posters are concerned with LS estate selling shares. I believe the company or IR already stated that the estate WAS NOT selling shares. For now, I am sure that is the case. There may come a time when the executor of the estate goes that route, not sure if they would need a court order or permission, but if there is verbage in the will to the effect the shares are distributed, then they would be placed to the heirs intact before they were sold. Unless the whole lot could be arranged to be sold in a block, it would be a lot of work to value the estate at all the various price per shares they would get to move such an amount.
Hopefully, there may be language to allow EGMI to acquire the outstanding LS stock at some fixed price. Wishful thinking.
Hey,
Thanks for going to that effort in the attempts at some information verification. I like the willingness of members on this thread to work at investigating and uncovering, verifying information....good job.
It this coming update or report on progress going to have a question/answer session? If so, I bet this board could get a list of questions worked up and then edited down to ask a few essential questions.
I would like to know their plans after the Scientific Games agreement ends. Do they have any plans for the American Lottery?
What is the Indian Gaming status?
Sure would like to get any information on the Sports Licensing.
Thanks.
I understand that you became involved with EGMI through the exposure from Poken.
The 'Merit' of EGMI is anything BUT Poken. Poken was and could be a nice additive exposure for EGMI, but nevertheless, off-course for this company.
Now that you are here, do some dd, ask somebody you trust about the numbers and see for yourself.
It is a good place, imho, to leave some money alone and wait.
Good luck.
Thoughtful and well reasoned post.
'we’re looking at a couple that continue with the promotional cards for Electronic Game Card and also now with the new Poken product because the Poken product leads the consumer in that sports fan initiative online. And you can only imagine the possibilities that stem from having that product leading the consumer online, online engagement, online interaction, and the measurability of that product. And so the discussions have been helping the other products grow in further opportunities within the sports properties. '
Good comment to focus on the sales language by Kevin, kind of pie-in-the-sky hype that is a break from the more conseverative approach this company was using in the recent past.
EGMI touts it has a nice relationship with BD&A, and Kevin starts down a path of ideas that take EGMI away from core competentcies. It's like EGMI cards were the cracker it hopes to 'feed' to the sports properties and Kevin is hoping to load that cracker with Poken and ....(the things you can only imagine that have 'future opportunities'...) All too ethereal, I hope to not hear this type of language in the coming updates.
Maybe I can give them credit for attempting the 'faster buck' or believing they have a live one in Poken, but the previous business model is conservative, gets other deep pocketed players involved in pushing our brands/products, and just as good as that, keeps our overhead EXTREMELY managable!
Why take on the responsibility of being the exclusive vendor in the US for Poken? Doesn't it make more sense to have independent techies around the big citys become entrepreneurial and work to 'get the word' out? You can always keep a larger profile online and throw some concentrated money at it later if it gains traction. 4% interest is 4% interest, fine, put that to bed and go on pursuing the business plan.
Relations with China as a country are a bit strained at present. Wonder what bearing that has on business at large?
Well said, I believe that is a very prudent use of some of their cash. Only thing I can think of to directly affect the great pull back was that the company reached a position of being overbought.
Pulling shares off the market could signal the company's support of shareholders as well as bring the investment community closer in.
Answered my own question. The 'Parent Company' was in reference to the web site, Shop Poken, which is owned by egmi. So looks like Poken is kinda using egmi's gameplan of partnering with delivery devices to grow...
You would think with a board position that it would protect EGMI's 3.45% from being watered down at all. So the board position at least has a voice. What is the language about 'Parent Company' then?
Nice post. Very good points.
The outright ownership of just under 4% of the company was stated, the seat on the board was stated.
Undstated was any further milestone aggreements that might be in place as far as egmi helping Poken hit certain numbers/levels. Maybe Egmi gets a bigger slice of the pie if it can bring Poken along. Seems like Egmi is the deep pockets for Poken at present, with the infrastructure in place to push Poken out there in front of many more eyes quicker that Poken could have done. I would have to think it is all good for Egmi to see Poken thrive.
Don't think they are at CES officially. Maybe haning around but not presenting.
65,109,353 weighted number of shares outstanding (basic)
72,151,865 weighted number of shares outstanding (diluted)
As of Sept. 30, 2009
I have not followed this on a daily basis, can you please tell me what the current share count is?
How many outstanding?
What is total float?
How about fully diluted share count?
Thanks.
Well I hear the Tiger Poken is VERY good at POKEN!
Yes,
Looks like they have a promotional account in the books. When I reloaded that page, the number of Pokens 'left' were pretty stable to increasing with a slow tic downward...until you reloaded the page.